PHILAMLIFE MORTGAGE FINANCE DEPARTMENT

FIXED RATE HOUSING LOAN PROGRAM

• Purpose of the loan
  
• Acceptable locations of collateral
  
• Interest Rate
  
• Amount Loanable
  
• Application/Service Fees
  
• List of requirements
• Others
• Have a Philamlife representative contact me

PURPOSE OF LOAN:

• Purchase of house & lot, townhouse or condominium unit (to be occupied as borrower's primary residence)
  
• Refinance an existing housing loan from another financial institution (primary residence only)

LOCATION OF COLLATERAL:

• Metro Manila
  
• Batangas (Batangas City)
  
• Bulacan (Baliuag, Bocaue, Marilao, Malolos, & Meycauayan)
  
• Cavite (Bacoor, Imus, Dasmarinas, Carmona, Silang, GMA, Noveleta, Gen. Trias, Tagaytay City & Cavite City)
  
• Laguna (San Pedro, Binan, Sta. Rosa, Calamba, Los Banos, Cabuyao)
  
• Pampanga (Angeles City)
• Rizal (Cainta, Antipolo, Binangonan, Morong, Angono & Taytay)
  
• Cebu City, Iloilo City, Bacolod City, Davao City & Cagayan De Oro City
  

  Properties shall be subject to appraisal and acceptability

INTEREST RATES:
Indication Only. The following rates are subject to change based on the prevailing rates at the time of disbursement.

LIST OF REQUIREMENTS:

• Application form duly completed and signed by the borrower;
  
• Credit & Property Appraisal Authorization;
  
• Lot plan, vicinity map/floor plan;
  
• Copy of TCT, tax declaration & receipts of the property;
  
• Photocopy of marriage contract, if applicable;
  
• Bio-data and 2x2 picture of the borrower & spouse;
  
• Bank Statement/copy of the passbooks for the last six months;
  
• If employed: a) Income & Employment Certification b) last 3 mos. payslip c) ITR for the last 3 years;
  
• If self-employed: a) Audited Financial Statements b) DTI Business or Company profile briefly describing history of the company, line of business & competition;
  
• Philamlife Official Receipt representing application fee;
  
• Other requirements as maybe required: a) Copy of Contract to Sell or Offer to Sell or Offer to Sell (for purchase) b) Statement of Account from the Creditor (for refinancing) c) Copy of Official Receipt paid to the Creditor for the last 6 mos. (for refinancing) d) Copy of loan contracts with the creditor (for refinancing)
  

  The company reserves the right to change the above term and conditions without prior notice.

AMOUNT LOANABLE:

MINIMUM LOAN AMOUNT:
P350,000 per transaction

MAXIMUM LOAN AMOUNT:
Whichever is lower between:

• 70% (purchase of house & lot - house of not more than 3 years old) or 65% (refinancing or purchase of house & lot - house more than 3 years old) of Appraised value of collateral
  
• Borrower's capacity to Pay (based on Monthly Amort. not to exceed 25% (or 30% for single income) of Gross Monthly Income and 70% of Net Disposable Income)

APPLICATION /SERVICE FEE:

• Application Fee - P3,000 regardless of loan amount. Collected upon submission of complete requirements to cover appraisal. (Non-refundable)
• Service Fee - 1% of approved loan or P10,000 whichever is higher but not to exceed P100,000. Collected after approval of the loan. Application Fee is deducted from Service Fee.

OTHERS:

PREPAYMENT PENALTY: Pre-termination shall be subject to pre-payment penalty.

INSURANCE: Pro-OL, Versa Life Assurance or any Philamlife permanent plan acceptable to Philamlife. Fire insurance with Philamlife's Personal Lines Dept.

Have a Philamlife representative contact me.

for individual accountsfor corporate account